New York Property Condition Disclosure Statement Explained

Quick answer: New York’s property condition disclosure statement is a signed form in which a seller of a one- to four-family home shares conditions known to the seller, delivered before the buyer signs a binding contract. Selling as-is does not by itself remove the requirement, though some transfers, such as certain estate sales, are exempt.

What the disclosure statement is

The property condition disclosure statement comes from Article 14 of New York’s Real Property Law, known as the Property Condition Disclosure Act. It is a statement of certain conditions and information about the property known to the seller. The official form is published by the New York Department of State.

The statement is not a warranty of any kind by the seller or the seller’s agent. It is also not a substitute for inspections or tests. The buyer is encouraged to get their own inspections and to check public records.

Who has to give it, and what the law covers

Every seller of residential real property under a purchase contract must complete and sign the statement and have it delivered to the buyer or the buyer’s agent before the buyer signs a binding contract of sale. This applies whether the buyer pays cash or uses a mortgage.

Residential real property here means property improved by a one- to four-family dwelling used or intended to be used as a home. The statute’s definition does not include unimproved land, condominium units, cooperative apartments, or property in a homeowners’ association that the seller does not own in fee simple. If you are selling a condo for cash in New York, ask your attorney how the law treats your unit.

Selling as-is does not by itself remove the requirement. An as-is sale of a one- to four-family house, including one you are selling without a kitchen or bathroom remodel, still calls for the statement unless an exemption applies.

How to fill it out

The seller completes the form personally and answers based on actual knowledge. You are not required to investigate the property to answer the questions. A few practical points:

• Answer honestly, and only from what you actually know.
• Check “NA” (not applicable) or “UNKN” (unknown) where that is the honest answer.
• Attach extra pages if you need more room to explain an answer.
• Keep copies of repair or insurance paperwork you already have.

A knowingly false or incomplete statement may subject the seller to claims by the buyer, before or after the transfer of title. If you later learn something that makes an answer you already gave materially inaccurate, the law requires you to deliver a revised statement as soon as practicable. If anything changes before closing, tell your attorney.

What changed in 2023

Senate Bill S5400 was signed by the Governor on September 22, 2023, as Chapter 484. It took effect 180 days later, in March 2024, and it changed two things sellers should know about.

First, liability. The old rule, under which a seller who failed to deliver the statement gave the buyer a credit at closing, was removed. Now a seller who provides, or fails to provide, a statement or a revised statement is liable only for a willful failure to meet the law’s requirements. In that case, the seller is liable for the buyer’s actual damages in addition to any other existing remedy, and the law does not limit existing legal causes of action.*

Second, flood questions.* The form now asks whether the property is in a FEMA-designated floodplain (the 100-year Special Flood Hazard Area or the 500-year moderate risk area), whether flood insurance is required or in place, and whether a flood claim has ever been filed. The form also asks about many other conditions, such as the structure, water and drainage, systems, and environmental items.

* Accurate as of 10/7/2026, the date this post was written. Laws and the official form can change, so please verify the current law and the current Department of State form with an attorney before you rely on them.

When the statement is not required

Section 463 of the law lists transfers that do not need the statement. Among others, these include transfers by court order, including probate court orders; transfers by a fiduciary in the course of administering a decedent’s estate; foreclosure sales and deeds in lieu of foreclosure; transfers between spouses or former spouses under a divorce decree; and newly built homes that were never lived in.

If you are selling an inherited house in New York City, the estate exemption may apply, but ask the attorney handling the estate before you assume it does. The same advice holds if you are asking whether you can sell the house during a Yonkers divorce or trying to learn who controls the steps when a Bronx house is in foreclosure. Ask your attorney early whether the statement applies to your sale and who will deliver it.

How a Fair Offer NY offer fits

Fair Offer NY buys houses and condos for cash, as-is. You get a written, no-obligation cash offer within 24 hours, and you choose the closing date, whenever you are ready. We charge no fees, and there are no agent commissions. Please review the offer and the contract with your own attorney, including whether the disclosure statement applies to your sale.

In short, answer from actual knowledge, and talk with your attorney early.

Frequently asked questions

Do I need a disclosure statement if I sell my house as-is?

Selling as-is does not by itself remove the requirement for a one- to four-family house. Unless an exemption applies, the statement must be delivered before the buyer signs a binding contract of sale.

Does the statement apply if the buyer pays cash?

Yes. The law applies to every seller of residential real property under a purchase contract, whether the buyer pays cash or uses a mortgage.

What if I do not know the answer to a question on the form?

You may check “UNKN” (unknown) where that is the honest answer. You answer from actual knowledge and are not required to investigate the property.

Do condos and co-ops need the statement?

The statute’s definition of residential real property does not include condominium units or cooperative apartments. Ask your attorney how the law applies to your sale.

* Accurate as of 10/7/2026; please verify current law.

This article is general information, not legal advice. Talk to a New York real estate attorney about your specific situation.